Our website uses cookies to improve your user experience. If you continue browsing, we assume that you consent to our use of cookies. More information can be found in our Cookies Policy and Privacy Policy.

Newton acquires Henderson subsidiary

The deal, which both companies expect to complete in August, will raise Newton&#39s private client and charities funds under management by 25 per cent to around £5bn from £4bn.

HPAM manages around £930m of funds on a discretionary basis for 1,000 high net-worth clients, private trusts and charities. All its staff are expected to transfer to Newton during the third quarter of the year.

Recommended

Financial Ombudsman Service chief ombudsman Walter Merricks is inviting mortgage intermediaries to join the service two years earlier than they will be obliged to by the FSA.At the LIA Conference last week, Merricks said once mortgage advice comes under the FSA umbrella in 2004, intermediaries will automatically become part of the ombudsman scheme so it […]

Further matters of interest in the Budget are:- Domicile And Residence (i) A report is to be released before the pre-Budget report 2002, generally published in November, on the complex rules of residence and domicile. It is not yet clear whether this announcement signals that there will be a formal consultation document, a discussion paper […]

Is defined payment the weakest link in the FSA&#39s CP121 proposals? It appears so. Managing director John Tiner says the FSA is considering other options. David Severn apparently puts its survival at 50-50. At the G80 conference last week, 80 per cent of those present believed it would be modified. And we hear the Treasury&#39s […]

Rathbone Unit Trust Management has capitalised on interest in corporate bonds and ethical products with the introduction of the Rathbone ethical bond fund.This unit trust invests in corporate bonds issued by companies that have a positive attitude towards ethical concerns. It has a target yield of 6.2 per cent and will concentrate only on sterling-denominated […]

Newsletter

Latest from Money Marketing

The Competition and Markets Authority has criticised insurers over “stealth price rises” and costly exit fees for loyal customers. The watchdog looked into areas including cash savings, mortgages and home insurance after charity Citizens Advice raised a so-called “super complaint” over how longstanding customers are treated by financial services organisations. The CMA has recognised that […]

Banking lobbyists have warned that UK banks currently face higher tax rates than international counterparts, and that these could hasten banks’ departures if they remain after Brexit. Reuters reports that research commissioned by UK Finance and carried out by consultancy PwC shows London banks face an effective tax rate on profits of 50.6 percent, above […]

Barclays has been fined $15m (£11.9m) by US regulators after attempts were made to unmask a whistleblower by chief executive Jes Staley. In 2016, a Barclays employee sent two letters regarding concerns over the chief executive’s decision to hire a former colleague to work at the bank. The whistleblower posed questions both over the experience […]

19th December 20188:33 am

Comments

Leave a comment

Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.